John Healey becomes chancellor weeks after shock resignation from defence job
John Healey - who has been announced as Andy Burnham's Chancellor of the Exchequer - is seen as the ultimate safe pair of hands.
Economy
Copper: Speculators rebuild longs on tight supply – TD Securities
TD Securities’ commodity strategy team highlights that, after a five‑week reduction in Copper longs, speculators have resumed adding net length, supported by firm Chinese premiums, low arrivals and inventory draws on th…
Who is new chancellor John Healey? Labour veteran who quit as defence secretary
John Healey - who has been announced as Andy Burnham's Chancellor of the Exchequer - is seen as the ultimate safe pair of hands.
Merger deal between Paramount and Warner Bros paused by judge
A US federal judge has temporarily blocked the proposed $110bn (£85bn) merger between media giants Paramount Skydance and Warner Bros Discovery.
Trump imposes 50% tariff on Canadian imports
US President Donald Trump has signed an order imposing a 50% tariff on a wide range of goods imported from Canada, in retaliation for what he called "unequal treatment" of US cars, dairy and alcohol.
Trump declares retaliation against Iran automatic in Truth Social post
Donald Trump opened the week on Truth Social with a promise that every American soldier killed by Iran will be repaid many times over, a directive he says has been passed to Secretary of War Pete Hegseth, Joint Chiefs o…
Burnham has big ideas - but what will they cost?
Up until this point, the new Prime Minister Andy Burnham has described his policy changes with a broad brush. From today, he faces the constraints, trade offs, and realities of high national office.
Crude Oil spends Monday selling the war, then buys the revenge post
Crude Oil compressed its entire 2026 personality into a single Monday tape. The barrel faded from just above $84.00 through the European morning, flushed the stops to just short of $79.50 around midday, and then reprice…
Malaysian Ringgit: Growth supports range against US Dollar – Commerzbank
Commerzbank’s Dr. Henry Hao and Moses Lim report that Malaysia’s stronger-than-expected Q2 Gross Domestic Product (GDP) growth and subdued inflation support an unchanged policy rate of 2.75%. USD/MYR has remained within…
Healey made chancellor, Miliband named foreign secretary and Yvette Cooper becomes health secretary as Burnham picks cabinet – UK politics live
Burnham’s team were clear they want an experienced figure to deliver his vision for UK economy - combining fiscal responsibility with focus on re-industrialisation, devolution, cost of living crisis and driving growth.
Dow Jones Industrial Average sits out a rally priced for a peace nobody has scheduled
The Dow Jones Industrial Average (DJIA) trades near the 52,000 handle on Monday, down roughly 100 points, while the S&P 500 adds 0.4% and the NASDAQ Composite climbs 0.9%, with all three coming off a losing week. The sp…
Brent: Geopolitics support crude and cracks – Societe Generale
Societe Generale’s Michael Haigh and Jeremy Sellem highlight that Brent has surged as US-Iran tensions, Trump’s rhetoric and Houthi blockade threats lift risk premia. Crack spreads in Asia and US have outperformed as re…
Judge orders pause on Paramount-Warner merger after challenge from 12 states
A federal judge on Monday ordered Paramount and Warner Bros Discovery to halt their $81bn merger for at least two weeks, allowing states that are challenging the deal more time to see their case through in court.
Thousands of websites taken down for illegal World Cup streams
Almost 3,000 websites have been blocked or seized for illegally streaming World Cup matches, the US Department of Justice (DOJ) has said.
Forex Today: US Dollar rises as Gulf tensions lift, Oil and Canadian inflation cool
The US Dollar Index (DXY) rises around 0.2% toward 101.00 as higher United States (US) Treasury yields and escalating tensions in the Middle East support the Greenback. The benchmark 10-year Treasury yield advances towa…
Canadian Dollar: Rate divergence weighs CAD against US Dollar – TD Securities
TD Securities strategists note that softer Canadian Consumer Price Index (CPI) is lifting USD/CAD as rate divergence remains a key driver. They argue broad US Dollar (USD) strength should limit USD/CAD downside below 1.…
Japanese Yen weakens as renewed Middle East tensions lift US Dollar
USD/JPY trades around 162.55 on Monday at the time of writing, up 0.10% on the day. After an initial pullback in the US Dollar (USD), the pair regains momentum as geopolitical concerns return to the forefront and suppor…
Asia FX: Oil rebound pressures INR and THB – MUFG
MUFG’s Lloyd Chan highlights that higher Oil prices and persistent inflation risks are weighing on Asian currencies, with the Indian Rupee (INR) and Thai Baht (THB) underperforming against the US Dollar. The Baht looks …
Canadian Dollar falls as softer Canadian inflation weighs on the Loonie
USD/CAD trades higher near the 1.4060 area on Monday, recovering from below 1.4000 as the Canadian Dollar (CAD) weakens following softer-than-expected domestic inflation data. The US Dollar Index (DXY) also rises around…
Judge orders Paramount to temporarily pause Warner Bros acquisition
Executives at Paramount and Warner Bros. Discovery reportedly fear a judge will hit pause on their massive $110 billion merger in the coming days – putting the deal on hold for weeks as it nears a crucial deadline.
Ukraine’s Zelenskiy meets commanders as street protests mount
KYIV, July 20 (Reuters) – President Volodymyr Zelenskiy met some of Ukraine’s top military commanders on Monday to try to ease growing discontent with the defence leadership that has triggered the largest street protest…
Gold edges lower as Middle East conflict boosts the US Dollar
Gold price edges down some 0.19% on Monday as hostilities between the US and Iran extended, following a short-lived truce that began after both countries agreed to a ceasefire, which was broken nine days ago. At the tim…
Australian Dollar holds as PBOC stands firm
AUD/USD trades around the 0.7000 area on Monday, holding near recent highs after recovering from last week’s decline. The Australian Dollar (AUD) remains supported by limited US Dollar (USD) demand, although rising geop…
Euro loses momentum as US Dollar recovers from intraday lows
EUR/USD edges lower on Monday after reversing earlier gains as markets swing between risk-on and risk-off sentiment. At the time of writing, the pair trades around 1.1408, easing from an intraday high of 1.1449.